EQS-News / 26/07/2016 / 16:07 UTC+8
*?For Immediate Release?*
*China Hanking Holdings Limited*
*??????????*
*(Stock Code:3788)*
*Hanking Gold JORC Resource Up 51% and Reserve Up 48%*
*[26 July 2016, Hong Kong*] *China Hanking Holdings Limited *(*"China
Hanking*" or the "*Group*"; Stock code: 3788) announced that that Hanking
Gold Mining Pty Ltd ("Hanking Gold"), a subsidiary of the Company, has
increased its JORC Code resource by approximately 50.96% and JORC Code 2012
reserve by approximately 48.09%.
The major increases in resource and reserve were achieved by Hanking Gold,
together with its contractors and independent consultants, through
successful exploration programs, interpretation of the new and existing
geological data, and feasibility studies at the Yilgarn Star, Copperhead,
Cornishman and Edward's Find North gold projects. The total JORC Code
resource of Hanking Gold has been increased to approximately 35.42 million
tons at 4.1 g/t for 4.63 million ounces of gold, up 50.96% as compared to
the announced resource on 19 May 2016. The total JORC Code reserve increased
to approximately 9.56 million tons at 3.3 g/t for 1.01 million ounces
(production depleted to 30 June 2016), up 48.09% as compared to the
announced resource on 19 May 2016.
Commenting on this major resource and reserve update, *Dr. Yumin Qiu,
Executive Director of China Hanking, President and Chief Executive Officer
of Hanking Gold* said, "We have nearly doubled our JORC Code resource over
three years and grown our reserve from zero to more than 1 million ounces of
gold. This is a fantastic testimony to our team's capacity in creating
values for shareholders through exploration, feasibility studies, mine
development and operations. We have now built high-grade long life gold
operations with well-established infrastructure in the highly prospective
and under-explored Southern Cross Greenstone Belt, on track to become
Australia's next middle-tier gold producer."
Hanking Gold mined 68,501 ounces gold in the first half of 2016, and is
currently ramping up its open pit mining at Axehandle and its underground
mine at Nevoria. With 3 million ounces of gold in Measured and Indicated
high-grade JORC Code resources and more than 1 million ounces gold in
high-grade JORC Code reserve, based on the Hanking Gold's feasibility
studies, Hanking Gold targets to produce an average 162,000 ounces of gold
per year over the next seven years.
*Dr. Pan Guocheng, Executive Director, President and Chief Executive Officer
of China Hanking* expressed, "The successful adding resource extension and
reserve conversion near our existing facility has again demonstrated the
team's capacity for growth in Australia. The Group will continue to support
value creation exploration and expand gold production".
*Projects* *Tonnes *Grade*(g/t) *Contained Gold
*(Kt) *(Koz)
*Open Pit*
Axehandle 2,712 2.5 214
Cornishman 35 1.5 2
Yilgarn Star Pit 1,547 2.9 144
Aquarius 616 3.3 65
Frasers 340 3.4 37
Edwards Find North 327 2.7 28
*Underground*
Nevoria Underground 1,076 4.0 128
CNC Underground 473 4.3 65
Frasers South 550 4.5 80
Underground
Jaccoletti 988 3.5 111
Underground
Yilgarn Star 896 4.7 134
Underground
*Total* *9,560* *3.3* *1,010*
-End-
*About China Hanking Holdings Limited*
China Hanking Holdings Limited (stock code: 3788) is a fast-growing
international mining and metals group that focuses on finding, mining,
processing and marketing the Earth's mineral resources. Hanking focuses on
precious metals coupled with nickel and other strategic metals. Our approach
is driven by investment and development of long-life, low-cost, expandable
operations in the most attractive geographical areas.
Issued by Anli Financial Communications Limited and on behalf of *China
Hanking Holdings Limited.*
*Media enquiries:*
*Anli Financial Communications Limited*
Karl Cheung 852-3956 1646 karl.cheung@anli.com.hk
Crystal Lo 852-3956 1638 crystal.lo@anli.com.hk
Candy Wong 852-3956 1641 candy.wong@anli.com.hk
Document: http://n.eqs.com/c/fncls.ssp?u=KDCYLGNNLO [1]
Document title: Hanking Gold JORC Resource Up 51% and Reserve Up 48%
Key word(s): Miscellaneous
26/07/2016 Dissemination of a Press Release, transmitted by EQS Group.
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485813 26/07/2016
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(END) Dow Jones Newswires
July 26, 2016 04:08 ET (08:08 GMT)
